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Stock Market

Bitcoin drops below $5,000, hitting the lowest level in over a year

It's a fall of more than 13 percent.

Bitcoin

Bitcoin hit its lowest level in more than a year.

Peter Kovalev/Getty Images

Bitcoin plummeted to its lowest level in over a year on Monday, according to CoinDesk.

As of press time Monday afternoon, the cryptocurrency fell to $4,805.62, according to the data. That's a drop of more than 13 percent. 

Bitcoin is a digital currency (aka cryptocurrency) that's seen its fair share of fluctuations in value over the past year. On Thursday, Bitcoin fell below $5,500, which at the time was the lowest point of the year. In December 2017, it was worth more than $17,000.

On Monday, bitcoin opened at $5,548.29 but soon fell to $5,165, according to CoinDesk, the lowest level since Oct. 18, 2017

The cryptocurrency hit a 24-hour low of $4,708.86 and a high of $5,610.15. On this day last year, bitcoin was trading above $7,600, according to CoinDesk.

Other cryptocurrencies like ethereum, tron and XRP also had losses of 15 percent, 16 percent and 4 percent, respectively.